Brokerages forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce earnings of $0.44 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $0.43 to $0.45. Piedmont Office Realty Trust posted earnings per share of $0.45 in the same quarter last year, which would suggest a negative year over year growth rate of 2.2%. The company is expected to announce its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that Piedmont Office Realty Trust will report full year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.77 to $1.78. For the next year, analysts expect that the firm will report earnings of $1.84 per share, with EPS estimates ranging from $1.81 to $1.86. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Piedmont Office Realty Trust.
PDM has been the subject of several research reports. DA Davidson cut shares of Piedmont Office Realty Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 23rd. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.00.
Shares of PDM traded up $0.44 during mid-day trading on Thursday, hitting $19.65. The company’s stock had a trading volume of 659,600 shares, compared to its average volume of 759,390. The company has a 50-day moving average price of $20.11. Piedmont Office Realty Trust has a 52-week low of $16.43 and a 52-week high of $21.40. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 11.32 and a beta of 0.69. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.98.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a $0.21 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 4.27%. Piedmont Office Realty Trust’s payout ratio is presently 48.55%.
Piedmont Office Realty Trust Company Profile
Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.
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